DALLAS, TX--(Marketwired - Nov 7, 2016) - Zen Technologies, Inc. ("Zen"), a wholly owned subsidiary of The Chron Organization, Inc. (Ticker: CHRO), announced today that it has executed a Letter of Intent (LOI) with a world-renowned direct sales organization.
For a myriad of strategic reasons, the name of this company will be withheld in this release; however, it will be announced at a later time. Nevertheless, CHRO believes that this direct sales company will become a major distribution channel for Zen's Smart Home services. This direct sales organization encompasses tens of thousands of effective sales associates, whom will now have the ability to market Zen's portfolio of Smart Home products and services across the United States.
Alex Rodriguez, CHRON President, who led the negotiations, stated, "I've always believed in face-to-face marketing and because of this, I view this deal as a very strategic relationship for our company. If we train sales representatives properly and equip them with the right tools, this organization will help us fulfill our mandate, which is to create smart, energy efficient homes for the masses."
Byron Young, CHRON Chairman, commented, "This is a serious LOI, with both parties committed to launching this program no later than February 1st, 2017. This gives us time to develop the appropriate training videos, marketing literature and customized processes for this distribution channel. We envision a mutually exclusive relationship, with details to be sorted out in the final binding agreement, which the parties have agreed to execute in no later than thirty days."
Per the LOI, it is anticipated that this will be a five (5) year relationship, mutually exclusive in nature and the program is scheduled to launch on or before February 1st, 2017. The primary focus of the relationship will be to create Smart Homes for the masses, which encompasses a line of Zen product packages that will allow both apartment dwellers and home owners to automate their lights, locks and thermostats, while also including a host of video and home security monitoring options.
Rodriguez added, "Our alliance with this direct sales organization is in alignment with our strategy and our mantra. We are confident it will help us accomplish a big part of our ambitious goal of becoming the de facto Smart Home services provider to the mass markets."
ABOUT ZEN TECHNOLOGIES, INC.
Zen Technologies, Inc. (Zen), a wholly owned subsidiary of The Chron Organization, Inc. (
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